Multiple Choice
Cherrington Company uses a process costing system. For May, the month just completed, the beginning work in process inventory consisted of 50,000 units which were 60% complete with respect to conversion costs. The ending inventory for the month was 20% complete with respect to conversion costs. A summary of cost data for the month follows:
-Using the FIFO method, the total cost of units in the ending work in process inventory is closest to:
A) $153,200
B) $154,800
C) $155,300
D) $157,000
Correct Answer:
Verified
Correct Answer:
Verified
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